Signals for the Tokenized Economy

U.S. Federal Reserve moves on proposals to implement GENIUS Act for stablecoins

The U.S. Federal Reserve has introduced two proposed rules to implement the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, marking a significant step toward formalizing stablecoin oversight. These proposals establish strict capital and reserve requirements to ensure stablecoins remain redeemable at par during periods of market stress. Furthermore, the rules outline specific procedures for Fed-regulated banks to issue their own stablecoins, requiring detailed business plans and financial documentation. A critical component of the proposal aligns with the Office of the Comptroller of the Currency by prohibiting issuers from paying interest or yield on stablecoin holdings, with only narrow exceptions for incentive programs. While the agencies are currently past the original July 2026 legal deadline, these proposals initiate a 60-day public comment period to refine the regulatory framework. This development is vital for the RWA market as it provides the legal clarity necessary for stablecoins to function as reliable, regulated settlement assets within the traditional banking system. By standardizing reserve requirements and issuer conduct, the Fed aims to integrate stablecoins into the broader financial infrastructure while mitigating systemic risks.

CoinDesk·Sep 24, 20268.5

Citadel Securities Joins DTCC Tokenization Test Using Fireblocks

Citadel Securities successfully completed a live test of the DTCC's upcoming Tokenization Service, utilizing Fireblocks' infrastructure to tokenize U.S. Treasury securities on the Canton Network. The trial involved transferring these tokenized assets to major counterparties including BNP Paribas and Société Générale, while demonstrating their utility as collateral on the CME. This milestone serves as a critical validation step for the DTCC's broader initiative, which is scheduled for a full launch in October 2026. By representing traditional securities on a distributed ledger, the project aims to enhance capital efficiency, reduce operational costs, and enable real-time collateral mobility. The initiative has already engaged over 50 financial firms, signaling strong institutional interest in blockchain-based market infrastructure. Fireblocks provided the necessary secure environment, including validator node access and governance tools, to ensure compliance with institutional risk policies. This development represents a significant move toward bridging traditional financial markets with blockchain technology while maintaining established investor protections.

blockchain.news·Sep 24, 20269.5

CoinShares report shows RWA deposits tripling to $7.4B

Tokenized real-world asset (RWA) deposits surged from $2.3 billion to $7.4 billion between Q2 2025 and Q2 2026, even as total DeFi deposits contracted by approximately 15%. According to a report by CoinShares and Token Terminal, this growth was driven by increased usage of tokenized funds, stocks, and commodities across lending protocols and decentralized exchanges. Major contributors to this collateral include BlackRock’s BUIDL, JTRSY, and various private credit products like JAAA and syrupUSDT. Ethereum remains the dominant network, hosting nearly 70% of RWA deposits, while platforms like Hyperliquid and Morpho have seen significant activity in derivatives and lending. Spot trading volume for RWAs grew by 220% during the period, with tokenized gold and equities leading the expansion. Perpetual futures also experienced massive growth, particularly on venues like TradeXYZ, where RWA-focused contracts now account for a significant portion of open interest. This shift indicates that finance is being rewired to integrate traditional assets into high-performance blockchain environments, despite crypto-native activity experiencing a downturn.

cryptonews.net·Sep 24, 20268.0

Bullish, Alpaca and Apex Fintech form coalition to push issuer-backed tokenized stocks

Bullish, Equiniti, Alpaca, Apex Fintech Solutions, and DriveWealth have launched the Issuer Sponsored Token Coalition to establish industry standards for tokenized securities. The group aims to bridge traditional market infrastructure with blockchain networks by ensuring tokens are directly linked to a company’s official shareholder register. This model prioritizes the preservation of legal rights, including voting, dividends, and participation in corporate actions, which are often absent in synthetic or derivative stock products. By focusing on issuer-sponsored tokenization, the coalition seeks to address concerns regarding the lack of direct ownership in current tokenized equity offerings. The initiative follows a recent U.S. Securities and Exchange Commission exemption that permits limited onchain trading of U.S.-listed equities under specific conditions. Alpaca plans to leverage its Instant Tokenization Network to enhance interoperability between traditional and onchain markets. This development is significant for the RWA market as it attempts to standardize the legal and technical framework required for institutional-grade equity tokenization.

coindesk.com·Sep 24, 20268.0

Someone was trying to sell Ondo Finance after founder Nathan Allman's death

Ondo Finance, a prominent tokenization platform managing over $3.8 billion in tokenized U.S. Treasuries and stocks, was reportedly offered for sale following the unexpected death of its 32-year-old founder and CEO, Nathan Allman, on May 25. This outreach to prospective buyers occurred amidst a bitter corporate control dispute, as Allman's estate, awarded to his parents, filed suit against acting CEO Ian De Bode in early August, alleging an unlawful power and money grab. While an Ondo spokesperson vehemently denied any sale discussions, calling them "wholly untrue," the escalating legal battle has likely paused any potential acquisition plans. This internal turmoil at one of the largest real-world asset platforms, known for its OUSG fund investing in BlackRock's tokenized BUIDL fund, highlights the governance and succession challenges that can arise in rapidly growing RWA firms. The situation underscores the importance of robust corporate structures and succession planning as the tokenized finance sector attracts significant capital and institutional interest, with crypto M&A reaching $12.9 billion in Q2.

CoinDesk·Sep 24, 20267.5

U.S. commodities firms can invest in tokenized assets, use blockchain records: CFTC

The U.S. Commodity Futures Trading Commission (CFTC) has issued updated guidance confirming that regulated firms may invest customer funds in tokenized assets, provided these tokens offer legal and economic rights equivalent to their traditional counterparts. This policy shift explicitly permits the use of blockchain technology for official recordkeeping, allowing firms to satisfy regulatory obligations through on-chain data. For private networks, the agency may waive the requirement for off-chain record maintenance, while public, permissionless chains require robust contingency systems to ensure data accessibility during network disruptions. This move represents a significant step toward integrating distributed ledger technology into the derivatives market by providing clear compliance pathways. The guidance arrives as the CFTC seeks to provide regulatory clarity amid legislative uncertainty following the U.S. Senate's failure to advance the Digital Asset Market Clarity Act. By validating the functional equivalence of tokenized assets, the regulator is lowering barriers for institutional adoption of blockchain-based financial instruments. This development underscores a broader trend of U.S. agencies adapting existing frameworks to accommodate the growing RWA ecosystem.

CoinDesk·Sep 24, 20269.0

Guardis Adds Tokenized Stocks and Commodities For Trading

Guardis has expanded its on-chain trading platform to include support for tokenized stocks and commodities, bridging the gap between traditional financial assets and decentralized finance. By integrating assets from issuers like xStocks and Ondo, the platform allows users to monitor equities and commodities alongside existing Solana-based crypto assets. The new functionality provides traders with real-time data on price changes, market capitalization, trading volume, and liquidity for these tokenized instruments. This development is significant for the RWA market as it centralizes fragmented liquidity and data, enabling a unified trading experience for both traditional and digital assets. Guardis leverages its existing Warden AI technology to provide safety scoring and scam protection, which is increasingly critical as institutional assets migrate to public blockchains. By maintaining a non-custodial architecture, the platform ensures that users retain full control over their assets while accessing professional-grade trading tools. This move reflects a broader industry trend toward creating comprehensive, user-friendly interfaces that simplify the discovery and execution of tokenized real-world assets.

benzinga.com·Sep 24, 20265.5

DTC Launches Tokenization Initiative with Fireblocks

DTC is launching a new tokenization initiative in October, leveraging Fireblocks technology to enhance onchain transfer capabilities for tokenized U.S. Treasuries. This collaboration aims to streamline treasury management and collateral handling processes for major financial institutions, including Citigroup. By facilitating secure onchain transfers, the initiative seeks to improve market efficiency and liquidity within the clearing and settlement ecosystem. As a significant player in the financial services sector, DTC's move underscores the increasing institutional adoption of blockchain-based solutions for traditional asset management. The project is expected to reshape how counterparties manage collateral, potentially setting a new standard for operational efficiency in the industry. Stakeholders are closely monitoring the October launch to assess its impact on market dynamics and the broader integration of tokenized assets into existing financial systems. This development highlights the growing trend of major market infrastructure providers embracing digital asset technology to modernize legacy settlement workflows.

coinfomania.com·Sep 24, 20268.5

Morgan Stanley, Oliver Wyman See Tokenized Assets Reaching $2.3 Trillion by 2030

thedefiant.io·Sep 24, 20267.5

Tokenization Moves from ‘PowerPoint to Production’

Financial leaders from BlackRock, DTCC, and Bullish confirmed that tokenization is transitioning from theoretical concepts to production-grade financial infrastructure. During the Financial Markets Policy Conference 2026, industry experts emphasized that blockchain technology is being decoupled from speculative crypto assets to enhance capital market efficiency. A major milestone occurred on September 16, 2026, when Ondo Finance’s Oasis Pro Markets became the first platform to join the DTCC’s Fund/SERV network, enabling broader distribution of tokenized funds. The DTCC is also advancing its own tokenization service, which aims to streamline settlement and improve capital efficiency, with one member firm projecting a 30% gain through intra-day repo optimization. Meanwhile, Bullish is acquiring transfer agent Equiniti to facilitate native onchain share issuance, ensuring issuers maintain control over shareholder rights and identity. Nasdaq and the NYSE are also integrating digital asset capabilities, with Nasdaq investing in Kraken’s parent company and the NYSE partnering with Blockchain.com to provide access to tokenized equities. These developments signal a shift toward a hybrid ecosystem where traditional financial institutions compete and collaborate to expand market access and liquidity.

marketsmedia.com·Sep 24, 20269.5

ARK Invest Partners with Securitize to Tokenize Actively Managed Closed-End Interval Fund, Tokenized Shares Initially Issued on Ethereum

ARK Invest and Securitize have launched the tokenization of the Ark Venture Fund (ARKVX) on the Ethereum blockchain, marking a significant shift in how actively managed interval funds are distributed. The fund, which holds approximately $1.3 billion in assets including private equity stakes in companies like SpaceX and OpenAI, allows investors to gain exposure through tokenized shares. Securitize manages the on-chain issuance and investor verification process, requiring a minimum investment of $500 payable in USDC. While the tokens represent a 1:1 ownership of fund shares held in custody by BNY Mellon, they remain subject to the fund's original quarterly redemption rules. This initiative leverages Securitize's established infrastructure, which also supports institutional products like BlackRock's BUIDL. By moving share registration to a distributed ledger, ARK aims to modernize capital market access and streamline investor processes. The move highlights a growing trend of traditional asset managers utilizing blockchain to enhance the distribution of complex, SEC-registered investment products.

ababnews.com·Sep 24, 20268.0

Tokenized Deposit Networks: A Practical Guide for the Banking C-Suite in 2026

The landscape for tokenized deposits in the U.S. has matured significantly by 2026, driven by the bipartisan GENIUS Act and critical regulatory guidance from the FDIC. The FDIC confirmed that deposit insurance applies regardless of the underlying ledger technology, effectively equating tokenized deposits with traditional bank liabilities. Financial institutions are now categorizing these assets into three models: intrabank settlement networks, intrabank tokenized deposits like JPMorgan’s Kinexys, and interbank networks designed for broader institutional interoperability. Major players such as JPMorgan, Wells Fargo, Citi, and HSBC are already utilizing these tools for cross-border cash management and expanded banking hours. Meanwhile, regional banks are coalescing around collaborative initiatives like the Prividium network and the IBAT DTX project to achieve similar scale. While stablecoins remain popular due to their bearer-instrument nature and role in funding U.S. Treasuries, tokenized deposits are emerging as the preferred programmable alternative for commercial bank money. This shift allows banks to maintain control over their ledgers while offering the speed and traceability required by modern corporate treasurers. Ultimately, the coexistence of stablecoins and tokenized deposits represents a fundamental evolution in how financial institutions manage liquidity and settlement.

bankingexchange.com·Sep 24, 20268.5